Stock Market

Why Donald Trump Is to Blame for the Stock Market Crash

Markets are finally taking note of the fact that the GOP candidate atop the polls is someone whose policies are the opposite of the pro-growth approach.


Ahmad Nawawi/Flickr

Investors and financial journalists scrambling to find an explanation for the recent plunge in global stock markets have plenty of suspects. Some look abroad for scapegoats: Greece or China. Others blame Janet Yellen: the Federal Reserve she chairs is at long last on the verge of raising interest rates, if only slightly. Personally, I blame the decline in share values on Donald Trump.

Markets are finally taking note of the fact that the Republican presidential candidate atop the polls is someone who wants to restrict immigration, cut back on foreign trade, and raise marginal tax rates. In each case, Trump's policies are the opposite of the pro-growth approach.

On immigration, Trump has made a name for himself as the restrictionist candidate. Yet scholars describe increased immigration as an engine of economic growth. Michael Mandelbaum's 2014 book The Road to Global Prosperity cites a rough estimate that lifting all global migration restrictions could double worldwide economic output. "Why do we have a special hostility toward persons from a poor country crossing a national boundary on their way to realizing their own potential?" asks NYU economist William Easterly in his 2013 book The Tyranny of Experts. The dean of Columbia Business School, Glenn Hubbard, wrote a book recommending that America seek alliance agreements with the United Kingdom, Japan, and Canada to ease the cross-border flow of labor.

The last time America slammed the immigration door shut, in 1929, with the implementation of President Coolidge's great mistake, the Johnson-Reed Act of 1924, a stock market crash and the Great Depression followed.

Trump's as bad on trade as he is on immigration. The Smoot-Hawley Tariff of 1930 joined with the immigration restrictions to make Herbert Hoover's presidency synonymous with economic disaster. By contrast, the Kennedy round of tariff reductions and the North American Free Trade Agreement and GATT/WTO tariff reductions helped make the 1960s and 1990s times of widespread prosperity. Trump would turn us back to protectionism.

On taxes, Trump wants to raise marginal rates. "The hedge fund guys are getting away with murder. They're making a tremendous amount of money. They have to pay taxes. I want to lower the rates for the middle class," Trump said Sunday on the CBS program Face the Nation. Trump said hedge fund managers who "shift paper around" are "paying nothing," in taxes, "and it's ridiculous." When Kennedy and Reagan lowered the top marginal tax rates, the economy boomed. When tax rates rise at the top—as they did with the Revenue Act of 1932 and with the tax increases of George H.W. Bush and Barack Obama—growth slows.

Not that the Democrats are much better than Trump. The Democratic equivalent of Mr. Trump is the self-described socialist senator from Vermont, Bernard Sanders. He, too, is anti-immigration, anti-trade, and for higher taxes. Even the would-be centrist voice on the Democratic side, Vice President Biden, was reportedly meeting over the weekend with Senator Elizabeth Warren of Massachusetts, who represents the statist wing of the Democratic Party. As for Hillary Clinton, she's been strong on immigration. But on trade, she's been unwilling to stand up for her husband's achievements, or even her own as secretary of State. It's clear that she, too, like Trump and Sanders, wants to increase marginal tax rates.

It's all reminiscent of 2008 and 2009, when, recall, the stock market only really seriously tanked once it became clear that the next president would be Barack Obama, and that Obama would be operating on an agenda of spend, tax, regulate, and polarize.

After the prospect of a Trump or Sanders administration gets priced into the stock market, the "inequality" about which the left is fond of complaining will be dramatically reduced.

This reduction in inequality, though, won't be the result of a constructive approach. It won't involve creating a rising tide of economic growth that lifts all boats. It won't come from focusing on education and skills or tax and welfare reforms that get individuals on the path to what Arthur Brooks calls "earned success." Instead Trump and his enablers in the Republican Party and beyond seem bent on a course of wealth destruction. Here's hoping voters react to the strong signal the market is sending.

NEXT: Vivid Example of Uber's Creative Destruction of New York Cab Business

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  1. Is there anything Trump can’t do???

    I’ve been as critical of the rise of Trump as anyone, but come on. Lot’s of things influence stock markets, but I doubt the yahoo getting love from the GOP this early in the race is one of them.

    1. It’s a known fact that stock markets only go up. The only time they ever go down is when there are bills to pay in future. Trump may not be bills to pay – but Donalds toupee in future is close enough.

    2. I hear Trump also has a weather control machine that is responsible for global warming. And an army of fembots doing his bidding.

      1. Oooooo! Fembots!

        Does Ira know about those? I bet the Fembots caused the lack of hurricanes the last few years. Only stands to reason, Trump got Fembots and hurricanes stopped. That just PROVES it! MORE FEMBOTS PEOPLE!

        (hey, it makes as much sense as anything Ira writes)

    3. Stoll sounds like an idiot.

    4. Everyone wants to blame Trump for everything these days. I’m pretty sure his hair is the reason the dinosaurs died!

      1. Aww, has anyone told Ira that the dinosaurs died?

    5. It looks like every writer at Reason got the Trash Trump Memo. Ira Stoll and her editors should be embarrassed by this piece of crap though. I imagine next you’ll be blaming Trump for Global Warming.

      It seems about 3 years ago Reason must have been bought out by the establishment machine. I guess next you’ll be changing your name to FOX at Reason.

  2. lol wut?

  3. This has to be a joke, no one can be this stupid. Is Stoll saying the stock market is so fragile that even the mention of the things trump is saying will cause a world wide depression? Although it’s not, maybe I could say the reason for the stock market’s decline is it’s realization of an open door immigration policy in a welfare state. Is it a coincidence that this happens after Ron Paul’s endorsement of Rand Paul? I think the stock market saw this endorsement and realized all hope is gone. As far a trump’s hedge fund comment, Melissa Francis said if you really look at it, it isn’t as bad as the sound bite seems, it’s not as significant as people want to believe who don’t know what they are looking at.

    1. While the idea is far-fetched just bask in how awful Trump and Sanders really are. That is the gist of this article.

      1. They are but to write an article implying what was implied does nothing to point out the bad in both people. It just makes people think those who make such nonsense implications as piling on. As far as immigration is concerned, I have yet to have anyone explain how an open door policy is good for a welfare state.

        I agree that sanders isn’t good for the country, socialism is never a good thing as it is pointed out, eventually you run out of other people’s money, i.e., Greece. I don’t believe trump is the answer either however, which other candidate is better? To say one isn’t as bad is like saying driver A is driving us over the cliff at 95mph but…the other driver is only driving us over the cliff at 75mph. We had a republican president before Obama, how has that worked out for us? We had a landslide of republican politicians who said what they thought we wanted to here take over the Senate, how has that worked out for us? We have candidates that want to increase our involvement in the mid east by sending our sons and daughters, who want to increase the military industrial complex, continue to fund the NSA, continue the war on drugs while giving lip service to medical marijuana, have no real problem with civil asset forfeiture, and on and on and on.

        So, how will trump be worst than those already in office who are doing damage by doing nothing? I would venture to say, he’s not better, but he’s also not worst, he’s just another one of the elite.

        1. Love Trump or hate him, he has done the country a huge favor by forcing the corrupt Republicans to address some of the issues he brings up. Not to say the Dems are any better, but I’ve had it with lying Republicans.

    2. As I finished this I realized what Stoll was saying, if ANYONE other than those with a libertarian bent leads in the polls or, god forbid, becomes president, the stock market will crash and we will have a world wide depression.

      1. Not only that, but restricting immigration in 1929 somehow caused a massive stock market crash immediately thereafter through a mechanism Ira Stoll never gets around to explaining.

        1. It’s like Trump’s rising poll numbers seem to be causing various grades of psychotic breaks with the writers. Since when would they have cared if a Presidential candidate supposedly said a Fox pundit was on the rag or blamed a stock market drop on someone that hadn’t even made it to primary season yet?

          I realize these guys probably have a quota on articles to write, but it might be to their benefit to lay off the Trump stuff for a while if this is the kind of content we can increasingly expect.

  4. What a ridiculous story. Everybody knows that Bush 43 laid the groundwork for ISIS and the stock market takedown we are currently experiencing.

    1. Yep, except maybe those who hate obama so much that they want to blame him. But if bush wouldn’t have started this mess obama wouldn’t have had to screw it up even more, he could have just stayed on vacation. So, we can say, that bush screwed us by not only destabilizing the region putting us in more danger but his actions also cause obama to get involved in ruining, er, running the country.

      1. pst….. prono…. soflarider was being sarcastic. Right, but sarcastic.

    2. Push! I put the blame squarely on the Johnson administration. Andrew Johnson that is.

  5. Who cares if the market is actually reacting to the Donald, or not? If ones life savings are safely and fully diversified for maximum protection regardless of which of these clowns becomes the new fuhrer, what does it matter which one of them it actually is?

    Fact [1]: No one really knows why markets move- we just know that they do- always.

    Fact [2] Many “experts” claim to know.

    Fact [3] many er, “misguided individuals” actually believe that “the financial experts” know why markets move, and where they are headed.

    Fact[4]: [which most are in complete denial of] nobody can reliably and consistently predict future economic events/ scenarios/ market moves etc.etc.

    They might occasionally get lucky, but that’s about it.

    Personally, I don’t worry about the latest “crisis” as outlined here, simply because the simple savings plan that I have used and recommended since 1986 has always worked to date , and will continue to work, regardless of what happens [or what is predicted to happen] to the US/world economy:

    For plan results see: http://onebornfreesfinancialsa…..pdate.html

    Regards, Financial Safety Services

    1. So nobody can know anything?

  6. “As for Hillary Clinton, she’s been strong on immigration. But on trade, she’s been unwilling to stand up for her husband’s achievements, or even her own as secretary of State.”

    See ? The real reason for this stock swoon isn’t Trump after all, it’s because Hilliary is too modest. If she had only stood tall on her achievements as SoS none of this would be happening.

    This article proves Hilliary is far too modest to be president when that modesty leads to such wealth destruction.

    I checked my calander and the date doesn’t say April 1 so I’m not sure what the hell is going on.

    Maybe this Ira character went on vaycay to Colorado for the first time ?

    1. I really think it dropped as much as it did is because traders saw a picture of her on the beach with her cankles showing and couldn’t handle that being in the WH for 4 years.

    2. here here….Oneout and Ira nailed this one. As much as I don’t like Hiullery’s socialism…she did a great job as Secretary of State…remember Obama ran on reducing hubristic warmongering….and things were looking bad for military contractors….but here we are 7 years later and Lockheed Martin and Bechtel are doing great…the military/black ops and war budgets are all very healthy….while we are also effectively limiting the handouts to bitching and whining veterans that signed their stupid contracts to serve as the enforcement wing for central bankers and other people with brains.

      Trump and his anti-intellectualism is causing a crash…make your choice people….choose responsible smart/serious people like Hillary Clinton or Jeb Bush or deal with the consequences. Ira was correct to say that Democrats weren’t “much better” than Trump…but let me be clear…Hillary Clinton is definitely better…look at the stock market under Clinton….things were great! and will be again as long as the anti-establishment conspiracy nuts don’t overturn the apple cart. Thank you Ira for doing a GREAT job today of informing the hicks about reality.

  7. Reason just jumped the shark !

  8. It’s funny to suggest Trump is to blame. I’m retired and not freaking out, here’s why:…..freak-out/

    1. I first read that as “we’re tired early”. 🙂

  9. I agree Trump would be a disaster for the economy, but I doubt too many investors smart enough to realize that are dumb enough to read too much into polls this early that don’t place any Republican candidate with anything resembling a majority.

    1. the theory that smart people aren’t idiots like the rest of us has never held up to scrutiny.

  10. This article is a joke, right? Because anybody who thinks the crash has ANYTHING to do with an election that is 14 months away — where not even a single primary vote has been cast — is either a jokester or a complete idiot.

    1. I took it as fairly tongue in cheek.

      1. I was anticipating someone write it.

    2. I vote for door number 2

  11. look, all the points you make about the absurd polices trump espouses are dead on, but this stock market swoon has ZERO to do with him.

    no one on the street takes a trump win seriously.

    this is just a part of the contagion from dramatic overseas weakness.

    if he did win, then yes, expect some severe economic issues, but he’s not going to. he’s leading because the GOP vote is so split. winnow it down to 3 candidates and he loses.

    me, i’m voting camacho.

  12. “It’s all reminiscent of 2008 and 2009, when, recall, the stock market only really seriously tanked once it became clear that the next president would be Barack Obama, and that Obama would be operating on an agenda of spend, tax, regulate, and polarize.”

    Are you fucking kidding me? This “blame Obama” shit is as tiring as the “blame Bush” shit. The market crashed because people were not paying their shitty mortgages anymore and nobody had any fucking idea on whose balance sheets those mortgage-backed “assets” ended up. It doesn’t matter who would have won in 2008 or who would have been sitting in the Oval Office in 2009.

    1. Indeed, if one looks back at the polls, the point at which Obama pulled away into the lead was AFTER the market correction and bubble-burst,when McCain, who was actually holding a narrow lead at the time, made the idiotic “suspend my campaign” decision in some attempt to look presidential regarding his role on the Senate Banking Committee ? and giving the Democrats open airwaves to control the narrative on the market situation.

      We have this residual idea of the Imperial Presidency, beyond even what power-grubbing executives themselves believe, where we try to associate every operation in the American economy and politics ?and increasingly the global and politics ?into that one office (including the race for that office, whether it’s actually properly begun yet, or if candidates are just making speeches six months ahead of any votes). It’s easier to attribute 2008 to Obama or Bush that figure out the complexities of mortgages crises and it’s easier to attribute the past few days to media saturation of Trump (with a dash of Sanders) than to deal with currency devaluation, commodity issues, and cronyism in banking (which itself is mostly a patch-job from 2008). But doing economics research is haaaaard…

  13. So Trump has saved us!!!!!!! He has burst the bubble before it was too late which was created by the world Central Banks quantitative easing that was going to doom the worlds economy. The man is a miracle worker, what can’t he do!!!!!

    Trump for Editor of Reason Magazine!!!!!!

    1. At this point, my Labrador Retriever might do better as Editor if this is any example.

  14. I don’t know what to make of this article. The needle on my joke detector is waving like a man on a desert island trying to flag down a passing cruise ship.

    1. There is no passing cruise ship. The guy is just telling himself that in an effort to make his dick get hard.

  15. Frankly I blame negative vibrations. All you folks out there have to stop with the negative thoughts.

  16. That is quite a natural experiment that Ira Stoll has exploited to infer causality. Remember, correlation is not causation, and correlation based on “personally, I blame…” is just blather.

  17. I hope this is some kind of satire or spoof.

    1. So I’m not the only one…. Good.

  18. By contrast, the Kennedy round of tariff reductions and the North American Free Trade Agreement and GATT/WTO tariff reductions helped make the 1960s and 1990s times of widespread prosperity.

    Yeah, buddy. I grew up in the 60’s and I remember all that prosperity. So goddamned prosperous that the government had to stop putting silver in the coinage due to it’s own monetary inflation policies. In fact, prices on nearly everything went up. Widespread prosperity? Yes, achieved by robbing savers of their purchasing power.

  19. The last time America slammed the immigration door shut, in 1929, with the implementation of President Coolidge’s great mistake, the Johnson-Reed Act of 1924, a stock market crash and the Great Depression followed.

    Bull. The crash and Depression weren’t caused, in any way, by immigration restrictions.

    1. I have yet to hear any economist link what the stock market did with trump. It’s funny how Stoll was the only one to see that.

  20. HAHA! Good one!

  21. Well trolled. I give it an 8.5.

  22. If this article’s meant to be in jest, good job. If it’s meant to be serious, Mr. Stroll needs to get a shrink to change his meds. I’d like to think it’s the former but it’s getting to where I just can’t fucking tell anymore.

  23. Why does Reason publish anti-Trump garbage like this?

    1. Well Arthur. You don’t have to read anything on this site if you don’t want to.

      1. This is true, BUT, I have to stop telling people to come here to sample libertarian ideas until the editorial staff gets back from the Colorado Pot Vacation. This is embarrasing.

    2. Maybe because trump’s views are in line with the premise of Milton Friedman and many libertarians are afraid to admit that in the state we are in now, open immigration will never work: “There’s a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not?

      Because it is one thing to have free immigration to jobs. It is another thing to have free immigration to welfare. And you cannot have both. If you have a welfare state, if you have a state in which every resident is promises a certain minimal level of income, or a minimum level of subsistence, regardless of whether he works or not, produces it or not. Then it really is an impossible thing.”

      The issue is, we are so linked to China that what happens to them will happen to us. Trump is right on that, funny how no one was saying that until now.

    3. “Why does Reason publish anti-Trump garbage like this?”

      Open borders pants shitting.

    4. It isn’t one bit funny. When I try to get non libertarians to investigate libertarian ideas I refer them to this site (among other things). It’s one thing to publish Shekdon Richman’s bullshit, but thus is just embarrassing. This kind of garbage is part of why there are so few libertarians.

      1. Well said.

        I too have referred people here to hopefully let them get to know libertarian ideas. The trend lately has made me stop. I certainly do hope that someone gets things under control. It would be a shame if I had to count on Redstate and Huff Po for journalism and sound thinking.

        (pardon me while I retch)

  24. I can’t believe someone wrote something this stupid. A stock market correction that began in China is somehow the fault of a GOP presidential candidate 1.5 years before the general election.

    Goddammit, Ira. Also:

    “The last time America slammed the immigration door shut, in 1929, with the implementation of President Coolidge’s great mistake, the Johnson-Reed Act of 1924, a stock market crash and the Great Depression followed.”

    Hey, this one thing happened at the same time this other thing happened. Clearly lower levels of immigration somehow caused a stock market implosion that was actually the result of people buying too much stock on credit.

    Reason really will go to any lengths to argue in favor of immigration and against Trump, won’t they? I hate Donald Trump, but there’s enough to actually criticize without giving yourself over to this bullshit.

    And the part on Obama is retarded too:

    “It’s all reminiscent of 2008 and 2009, when, recall, the stock market only really seriously tanked once it became clear that the next president would be Barack Obama, and that Obama would be operating on an agenda of spend, tax, regulate, and polarize.”

    You cannot actually believe this. You’ve done the impossible – you’ve gotten me to defend Obama and Donald Trump in one post.

    1. Go to Steam. Buy TIS-100. Bask in the technoglory that is the two register computer (well, maybe 1.5 is a better description). It’s a much better use of your brain cells.

      1. Let’s play Monopoly. That’ll get the market back on track.

    2. “The last time America slammed the immigration door shut, in 1929, with the implementation of President Coolidge’s great mistake, the Johnson-Reed Act of 1924, a stock market crash and the Great Depression followed.”

      Is Ira too stupid understand the difference between coincidence and causality or is he dishonest? Oh wait, Bob bought a gun then died in a car crash the next day ….sooo…. guns cause car crashes … right Ira?

      This is where things have been lately, Reason has resembled Huff PO in that the “journalism” has decayed to shrill exclamations, outright falsehoods, and specious logic. Not what I always associated with libertarians.

      Holy Idiot Batman!

  25. Is this article intended satire? Sarcasm, maybe? The writer can’t be serious.

  26. Well, don’t you fret, Ira, Hillary’s going to bull her way straight into the Oval Office. It’s her destiny to rule the “free” world.

  27. All Hail our Holy Economy!
    Bless Our Sacred Stock Market!

    Blessed is the Most High and Holy Immigrants, for it is They Who Boost the Most Sacred GDP!

  28. This is the worst article I’ve ever seen Reason post.

    1. And Stoll typically isn’t bad. I think Trump is making him loopy.

      1. And Trump isn’t really that horrible. We should be expending our energy trying to bury Hillary at this point.

        1. Tearing down the GOP, including (especially?) Paul, seems to be a priority for Reason eds. Is it because they think that the Dems need no further tearing down? Because if so, they are wrong.

          Hilary, Biden, Sanders, Gore (gack)—all are worse than any GOP candidate. Except maybe trump, simply because he is a complete enigma.

          1. Reason seems to have run totally off the rails here recently.

  29. V: What makes you think Trump is a witch?
    P2: Well, he turned me into a newt!
    V: A newt?!
    (P2 pause & look around)
    P2: I got better.

    1. Well, he did have a wart on his nose….

  30. So lets see, nothing to do with China massively devaluing there currency, Greek default, OPEC waging a oil war on US producers ($38 a barrel), real wage depression, real purchase power decline, regulatory environment that encourages companies to move to unstable foreign shores, the massive public and private debt, war on 4 continents who’s fighters not only ignore geneva conventions but make you tube vids of atrocities, the devastation of crop production in the central California bread basket due to water shortages (1/3 of all US agriculture), or many many other market pressures. A market under high pressure moves quickly once selling begins in earnest, the large funds began last week after China devalued and several disappointing corporate returns.

    Notice Donald Trump wasn’t anywhere in the list. Immigration, last week US census places illegals at 40 million plus in the USA. The majority are net drains on the US economy as they use all services and only pay sales tax. Most of there disposable income is sent as remittances to their country of origin (remittances to Mexico are at a all time high). Tax reform both raising and lowering has been a campaign staple since 1776. On trade the pacific trade pact is in final stages of negotiations but looks more like a regulatory agreement. The drafts that have leaked show massive regulatory burdens on all participating nations. A negative pressure on markets to be sure but, not Mr. Trump.

    1. Which shows that, contrary to the open borders sentiments or many posters here, Teump is right about illegals.

  31. Hopefully someone in the editing department is cackling madly over the success of their tomfoolery. Otherwise someone got a lobotomy.

  32. OT:
    Wired mag article about a “ghost gun” (making the lower receiver of an AR15). Interesting article but you have to get past the PJ boy author’s “it’s kinda cool but I don’t want to touch it” mentality. Blorch. He actually ends up purposely destroying the one good lower receiver he makes.


  33. Umm since when is Benie Sanders anti- immigration? And yeah he wants to raise taxes.. but on the rich… You guys have an editor right?

  34. Is this article a parody of something?

  35. is normally so ….. reasonable. WTF happened this time?

  36. Wow.

    This is really stupid.

    This is tin foil hat, trying to contact the mother ship, bat shit crazy.

    Has Reason decided to give up Libertarian and just become another site for the loons?

    Ira Stoll (nut job)
    Steven Chapman (progessive)
    Shikha Dalmia (progressive nut job)

    It seems to be getting worse.

    What a shame.

    1. Yep. Now that I’ve read, it that article is the only thing I can think of dumber’n Trump and his party.

  37. I am ok with a republican or a democrat a long as we get a serious thinker that understands Climate change needs to be dealt with via carbon taxes if Democrat or with a free-market carbon cap policy if Republican.

    I also want to make sure we get a serious candidate with real foreign policy experience who will either engage in lots of foreign wars for humanitarian reasons(liberating womyn) or to save us from Islamofacists ISIS type organizations that are trying to start a caliphate here in America where they will execute christians and make moms and sisters wear sand monkey hats. I personally am not christian, but I do realize there are good religions and bad ones.

    I also want a serious candidate who understands economics and realizes how important it is to let the Federal Reserve and plunge protection manage things the way experts decide…..not leave it all up to reality television stars. As long as we keep semi-serious people in positions of power we will b e able to manage things adequately to set up a good society as we have been doing the last 100 years. If any of you hicks think we need to move backwards instead of forwards please kill yourselves.

    1. Bummer Cosmo,

      Serious Candidate
      Top Men
      faith in your (fill in the blank) positively true and ultimate Truth Religion
      Kill yourself if you don’t agree with me

      yeahhh OKkkk
      Not to get you upset or anything, but, you DID remember to take those meds this morning didn’t you? You know how it upsets the neighbors when you don’t take the meds and then go out of the house.

      1. oh, so sorry, this was satire …. it was satire … right?

  38. guys lay off of Reason…they don’t apply litmus tests to their employees. They are encouraged to present a variety of ideas to their customers. There are many thoughtful ways libertarianism can be applied in the real world. perhaps some like the strict libertarianism we see at marginal revolution and perhaps others like the good old fashion kind popularized by Wiliam F Buckley and Milton Friedman.

    As long as we all agree that central banking is a good idea, a vast regulatory democracy is the best form of government, rule by educated technocrats is preferable to rule by the mob, political correctness doesn’t have to be obeyed at all times but there are responsible limits to free speech that make a lot of sense. Government total surveillance isn’t awesome, but we should all learn to respect and love it because it does save us from terrorism. Marijuana should be legalized 100%, but assuming that is politically unfeasible right now at least we can hope to increase government revenues and budgets in the near future from this new free market.

    1. Oh my, there is so much crazy going on here, I can’t tell if you are satire crazy, or real crazy.

  39. So Trump has replaced Bush as the new whipping boy for everything wrong in the world.

    1. I never understood why people treated W so badly. He did a great job considering the hand he was dealt…having to deal with the biggest attacks on American soil since Pearl Harbor. It is actually pretty amazing and fortunate that his able group of advisers had already thought out the best way to react to “A New Pearl Harbor”. The PNAC document was the type of serious planning that I am afraid a Donald Trump just won’t have ready for all the contingencies that he could face.

      it really was some super competent foresight that Wolfowitz, the RAND corporation etc had to put this thing together before 9/11.

      Thank Lucifer we weren’t just working of a random plan after the devastating attacks on our freedom.

  40. With the stock market tanking I thought I’d help cheer you guys up with some positive news! There is still a lot of great opportunities in this economy as long as we keep those homeland security budgets up at reasonable levels. The free market will deliver as long as we keep rule of law and serious politicians in place from either side of the aisle.

    Look at LRAD

    the sound cannons they make are a huge growth business….even third party press is talking about it!

    look at the partners like L3!

    all these great american companies to choose from! You guys should be proud!

  41. To all trying to character assassinate me with jokes about my “meds”: you only discredit yourselves when you resort to immature/irrelevant charges of lunacy. I am on the side of serious candidates….you are the people who have mental problems:

  42. What a ridiculous premise. China’s economy has been a fraudulent house of cards for years. Trump has nothing to do with it.

  43. If there is really one cause of the current crisis….it will eventually be made public by the serious investigative journalist. Here is my prediction of what the best financial experts will conclude: Right now we have all the central banks randomly executing their monetary policies in a politically selfish manner. If China had been thinking in a more worldly manner they would have devalued in the manner they did. For the good of the world the different central banks would cooperate.

    That is the biggest weakness of the current set up…we have made great progress in getting all the countries set up with Central banks(even Lybia and Iraq thank lucifer!) and organized via the BIS…..but there is still more harmonization that could be done.

    We need one world central bank with more authority to act without fear of bickering local politicians mucking up the greater good. Hopefully in due time we will get this problem fixed. We may just need a financial crisis big enough to overcome the wailing and whining from the american redneck class that gets confused by “teh big numburs” involved in international finance.

  44. Trump, though a a poor canidate, is not wrong on the immigration issue because he is talking about Illegal Immigration.. a nuance this article and the left continue to miss.

    It is true that many immigtrants start businesses buit there is not proof that these are the CHILDREN from Central America are the ones doing it.

    Ususally it is an educated person from Africa or a person who ran their own business ne the Middle East or Asia… Educated people, Shop Keepers and skilled trademen.

    Illegals cost the US Billions in Medical Care, Welfare, and incarceration… or maybe this author did not notice….

  45. Yeah, the current crisis in (fill in the blank), is the fault of
    A, The president who has been out of office for several years or
    B, One who may or may not be elected next year

    1. This comment sounds a bit racist.

    2. Here I was thinking Congress had something to do with meddling, robbing and murdering.

  46. Start making cash right now… Get more time with your family by doing jobs that only require for you to have a computer and an internet access and you can have that at your home. Start bringing up to $8596 a month. I’ve started this job and I’ve never been happier and now I am sharing it with you, so you can try it too. You can check it out here…

  47. Trade Tariffs /tr?d ?ter?fs/ noun

    1. Tacit admission by a country that they lack the economic creativity to effectively compete in the production of a certain class of products and thus must tax the shite out of them to artificially prop up their own producers.

  48. Hoover (not Coolidge) the mad prohibitionist had been president seven months, with Internal Revenue and Prohibition bureaus confiscating bank accounts, tapping phones, shooting people in the back while the courts nullified the 4th, 5th, 6th and 10th Amendments. In other words, the market crashed in response to the exact same thing happening in 1987, 1998, 2007, May 6, 2010, and right this minute. Asset forfeiture under fanatical prohibition and tax grabs is the leper’s bell of the approaching looter and always has been. It is the visible hand that feeds the “unproductive hands” that impoverish great nations, just as Adam Smith observed. Superstitious prohibitionist conservatives teaming with predatory parasitical socialists suffice to destroy any economy.

  49. I was going to comment on how absurd the premise of this article was, but you all beat me to it. Nice to know I was not alone!

    1. These things are recorded and available not in textbooks, but in old newspapers Google news has online. What matters is whether the factual record makes sense. If it does and that is inconvenient to our adversaries, so much the better. For 43 years the LP has pointed to problems from unexpected angles and lo! To keep us out of office and their unproductive hands in the till the looters are have to change their platforms and laws. Reason’s libertarian trends article shows clearly and visibly how effectively the strategy plays out. So to stand there and imagine that prohibition enforced through taxes or vice-versa does not crash the economy and the repeated events are coincidence is the height of idiocy. The 13th and 18th were the first force laws added as Amendments, and both are gonna haveta go if we are to have a workable economy.

  50. Augh! I meant the 16th Amendment, the income tax–the bookkeeping and accounting for which is involuntary servitude in violation of the 13th. There are excellent reasons for repealing the individual income tax. That it destroys the economy in erratic, convulsive response to government greed and usurpation is the kind of argument that you can take to the bank.

  51. I have to laugh at this ignorant article – at this point the market has roared higher. Was that Trump’s doing also?

  52. Trump should not do politics, its far from him… stay away

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